By Phil Franz-Warkentin, MarketsFarm
WINNIPEG, Nov. 13 (MarketsFarm) – The ICE Futures canola market was stronger Friday morning, trading just below the fresh contract highs hit on Thursday.
Gains in Chicago Board of Trade soybeans and soyoil provided some spillover support.
Weekly Canadian canola exports of 285,900 tonnes were down from the previous week, according to Canadian Grain Commission data. However, total sales-to-date of 3.4 million tonnes were still up by 1.1 million tonnes compared to what moved during the first 14 weeks of the 2019/20 marketing year.
The Canadian dollar was holding relatively steady in early activity, but remains well off the two-year highs relative to its United States counterpart hit earlier in the week.
About 4,000 canola contracts had traded as of 8:45 CST.
Prices in Canadian dollars per metric ton at 8:45 CST:
Price Change
Canola Jan 561.60 up 1.70
Mar 564.90 up 1.70
May 564.50 up 1.50
Jul 561.60 up 0.80
